Letter to the Senate on the Tax Cuts and Jobs Act Endowment Excise Tax Provision

Letter to the Senate on the Tax Cuts and Jobs Act Endowment Excise Tax Provision

​Letter from ACE President Ted Mitchell to Majority Leader Mitch McConnell and Minority Leader Charles E. Schumer on the endowment excise tax, referring Senate members to two articles discussing the fundamental flaws in the provision, one by Michael R. Strain, a scholar at the American Enterprise Institute, and the second by George Will.

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Congress is poised to take final votes this week on the version of a sweeping tax bill released late Friday by a House-Senate Conference Committee that contains a number of provisions harmful to students and their families and the higher education institutions that serve them.

The bill recognizes the importance of benefits that help millions of middle- and lower-income students and families, but some provisions will still make a higher education more expensive and undermine the financial stability of institutions.

The Senate on Saturday approved its version of the Tax Cuts and Jobs Act, a bill ACE President Ted Mitchell called “a significant improvement over the measure passed by the House” but still problematic for higher education.

The Senate has approved its version of the Tax Cuts and Jobs Act, a measure ACE President Ted Mitchell called “a significant improvement over the measure passed by the House” but still problematic for higher education.

We advocate for all higher education institutions at the federal level